{"id":74737,"date":"2026-04-21T13:09:56","date_gmt":"2026-04-21T07:39:56","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=74737"},"modified":"2026-04-21T13:11:10","modified_gmt":"2026-04-21T07:41:10","slug":"ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/","title":{"rendered":"UGRO Capital Q4 FY26 Results: Q4 PAT Recovers to \u20b929.55 Crore from \u20b96.38 Crore in Q3 \u2014 FY26 Total Income Crosses \u20b91,840 Crore, AUM at \u20b915,454 Crore (+40%)"},"content":{"rendered":"<p>UGRO Capital Limited \u2014 a DataTech NBFC specialising in MSME lending \u2014 reported a meaningful Q4 FY26 profitability recovery. Standalone Q4 PAT was \u20b929.55 crore, bouncing sharply from \u20b96.38 crore in Q3 FY26 \u2014 a 363% sequential improvement. Q4 total revenue from operations was \u20b9487.96 crore, which included a notable \u20b9122.54 crore gain on derecognition of financial instruments \u2014 a direct result of UGRO&#8217;s active co-lending and securitisation activity through its GRO Xstream platform.<\/p><p>For the full year FY26, UGRO Capital reported total income of \u20b91,840.40 crore \u2014 up 27.6% from \u20b91,441.85 crore in FY25. Interest income grew 32.8% to \u20b91,272.93 crore, reflecting a rapidly expanding loan book. AUM grew 40% YoY to \u20b915,454 crore. Full-year basic EPS was \u20b99.13 compared to \u20b915.52 in FY25 \u2014 a decline reflecting the higher cost of acquisitions (Profectus Capital, acquired June 2025) and branch expansion. The board approved capital raising plans through both debt and equity for FY27.<\/p><p>Track UGRO Capital on <a href=\"https:\/\/univest.in\/user\/log-in\">Univest<\/a>.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#UGRO_Capital_Q4_FY26_Financial_Results\" title=\"UGRO Capital Q4 FY26 Financial Results\">UGRO Capital Q4 FY26 Financial Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#The_GRO_Xstream_Co-Lending_Model\" title=\"The GRO Xstream Co-Lending Model\">The GRO Xstream Co-Lending Model<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#1_What_was_UGRO_Capital_Q4_FY26_PAT\" title=\"1. What was UGRO Capital Q4 FY26 PAT?\">1. What was UGRO Capital Q4 FY26 PAT?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#2_What_is_UGRO_Capital_FY26_AUM\" title=\"2. What is UGRO Capital FY26 AUM?\">2. What is UGRO Capital FY26 AUM?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#3_What_is_UGRO_Capitals_GRO_Xstream_platform\" title=\"3. What is UGRO Capital&#8217;s GRO Xstream platform?\">3. What is UGRO Capital&#8217;s GRO Xstream platform?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#4_What_is_UGRO_Capital_FY26_total_income\" title=\"4. What is UGRO Capital FY26 total income?\">4. What is UGRO Capital FY26 total income?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#5_Why_did_UGRO_Capital_FY26_EPS_decline\" title=\"5. Why did UGRO Capital FY26 EPS decline?\">5. Why did UGRO Capital FY26 EPS decline?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#6_What_capital_raise_did_UGRO_Capital_approve\" title=\"6. What capital raise did UGRO Capital approve?\">6. What capital raise did UGRO Capital approve?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#7_When_do_TCS_announce_Q4_results\" title=\"7. When do TCS announce Q4 results?\">7. When do TCS announce Q4 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#8_Is_UGRO_Capital_a_good_investment\" title=\"8. Is UGRO Capital a good investment?\">8. Is UGRO Capital a good investment?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/ugro-capital-q4-fy26-results-pat-recovery-29-crore-aum-15000-crore\/#Recent_Article\" title=\"Recent Article\">Recent Article<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"UGRO_Capital_Q4_FY26_Financial_Results\"><\/span><strong>UGRO Capital Q4 FY26 Financial Results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Metric<\/strong><\/td><td><strong>Q3 FY26<\/strong><\/td><td><strong>Q4 FY26 (Actual)<\/strong><\/td><td><strong>FY26 Full Year<\/strong><\/td><\/tr><tr><td>Net Profit (PAT)<\/td><td>\u20b96.38 Cr<\/td><td>\u20b929.55 Cr<\/td><td>+363% QoQ recovery<\/td><\/tr><tr><td>Revenue from Ops<\/td><td>\u2014<\/td><td>\u20b9487.96 Cr<\/td><td>\u2014<\/td><\/tr><tr><td>FY26 Total Income<\/td><td>\u2014<\/td><td>\u2014<\/td><td>\u20b91,840.40 Cr (+27.6%)<\/td><\/tr><tr><td>FY26 Interest Income<\/td><td>\u2014<\/td><td>\u2014<\/td><td>\u20b91,272.93 Cr (+32.8%)<\/td><\/tr><tr><td>AUM<\/td><td>\u2014<\/td><td>\u2014<\/td><td>\u20b915,454 Cr (+40% YoY)<\/td><\/tr><tr><td>FY26 Basic EPS<\/td><td>\u2014<\/td><td>\u2014<\/td><td>\u20b99.13 (vs \u20b915.52 FY25)<\/td><\/tr><tr><td>Co-Lend Gain<\/td><td>\u2014<\/td><td>\u20b9122.54 Cr Q4<\/td><td>GRO Xstream impact<\/td><\/tr><tr><td>Capital Plan<\/td><td>\u2014<\/td><td>\u2014<\/td><td>Debt+Equity FY27 approved<\/td><\/tr><\/tbody><\/table><\/figure><p>Source: UGRO Capital standalone audited results, EquityBulls, Whalesbook, BSE\/NSE filing April 20, 2026.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_GRO_Xstream_Co-Lending_Model\"><\/span><strong>The GRO Xstream Co-Lending Model<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>UGRO Capital&#8217;s business evolution is anchored around its GRO Xstream platform \u2014 a technology-enabled co-lending infrastructure that allows UGRO to originate MSME loans and share them with banking partners (including PSU and private banks). This &#8220;Capital-Lite&#8221; model is strategically significant: it lets UGRO grow its AUM without proportional balance sheet growth, while earning processing fees and retaining relationships with MSME borrowers. The \u20b9122.54 crore Q4 gain on derecognition of financial instruments reflects active securitisation \u2014 UGRO is selling down its loan portfolio to free up capital for fresh origination.<\/p><p>The 40% AUM growth to \u20b915,454 crore reflects the co-lending model&#8217;s leverage. AUM includes both loans retained on UGRO&#8217;s books and loans originated through co-lending partnerships. The Profectus Capital acquisition (June 2025) added secured business loans capabilities and deepened the MSME franchise. The resulting integration costs and branch expansion are what drove FY26 EPS lower relative to FY25 \u2014 a short-term investment for longer-term franchise value.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>UGRO Capital&#8217;s Q4 FY26 results show a company making meaningful operational strides \u2014 40% AUM growth, \u20b91,840 crore total income, and a sharp Q4 profitability recovery. The GRO Xstream co-lending model is the strategic moat. The FY26 EPS decline reflects acquisition and branch investment \u2014 a common pattern for growth-stage NBFCs. The capital raise approval for FY27 signals the company is preparing for the next AUM scaling phase. Watch for FY27 AUM guidance and credit cost trajectory post the Profectus integration.<\/p><p>For more Q4 FY26 results, visit <a href=\"https:\/\/univest.in\/blogs\">Univest Blogs<\/a>.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_What_was_UGRO_Capital_Q4_FY26_PAT\"><\/span><strong>1. What was UGRO Capital Q4 FY26 PAT?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>\u20b929.55 crore (standalone) \u2014 up sharply from \u20b96.38 crore in Q3 FY26, a 363% QoQ recovery, driven by \u20b9122.54 crore gain on derecognition of financial instruments through GRO Xstream.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_What_is_UGRO_Capital_FY26_AUM\"><\/span><strong>2. What is UGRO Capital FY26 AUM?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>\u20b915,454 crore \u2014 up 40% YoY. This includes loans on UGRO&#8217;s balance sheet and originated through co-lending partnerships.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_What_is_UGRO_Capitals_GRO_Xstream_platform\"><\/span><strong>3. What is UGRO Capital&#8217;s GRO Xstream platform?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>GRO Xstream is UGRO Capital&#8217;s technology-enabled co-lending platform, connecting MSME loan originations with banking partners. This &#8220;Capital-Lite&#8221; model allows UGRO to grow AUM without proportional balance sheet expansion.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_What_is_UGRO_Capital_FY26_total_income\"><\/span><strong>4. What is UGRO Capital FY26 total income?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>\u20b91,840.40 crore \u2014 up 27.6% from \u20b91,441.85 crore in FY25. Interest income grew 32.8% to \u20b91,272.93 crore.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Why_did_UGRO_Capital_FY26_EPS_decline\"><\/span><strong>5. Why did UGRO Capital FY26 EPS decline?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>FY26 basic EPS was \u20b99.13 versus \u20b915.52 in FY25. The decline reflects higher finance costs and operating expenses from the Profectus Capital acquisition (June 2025) and branch network expansion \u2014 deliberate investments in growth.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"6_What_capital_raise_did_UGRO_Capital_approve\"><\/span><strong>6. What capital raise did UGRO Capital approve?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>The board approved proposals to raise funds through both debt and equity for FY27 and also approved the 33rd Annual General Meeting. Specific quantum was not disclosed in initial filings.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"7_When_do_TCS_announce_Q4_results\"><\/span><strong>7. When do TCS announce Q4 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p><a href=\"https:\/\/univest.in\/blogs\/tcs-q4-results-2026-date-preview\">TCS declared Q4 FY26 results on April 9, 2026<\/a>. <\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8_Is_UGRO_Capital_a_good_investment\"><\/span><strong>8. Is UGRO Capital a good investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>UGRO Capital&#8217;s 40% AUM growth and co-lending model are differentiated. The FY26 EPS decline is acquisition-driven. Credit cost and asset quality trajectory post-Profectus integration are the key watchpoints. At current valuations, the growth story is compelling for patient investors. Consult a SEBI-registered financial advisor before investing.<\/p><p>Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only. All financial data sourced from publicly available NSE\/BSE filings and news sources. Verify all numbers before investing. Consult a SEBI-registered advisor before making investment decisions.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Article\"><\/span><strong>Recent Article<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/blogs\/vrl-logistics-q4-results-2026-2\">VRL Logistics Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/vraj-iron-and-steel-q4-results-2026\">Vraj Iron and Steel Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/voltas-q4-results-2026\">Voltas Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/voltamp-transformers-q4-results-2026\">Voltamp Transformers Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/vodafone-idea-q4-results-2026\">Vodafone Idea Q4 Results 2026: Date, Revenue, PAT and Analyst Outlook<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>UGRO Capital Limited \u2014 a DataTech NBFC specialising in MSME lending \u2014 reported a meaningful Q4 FY26 profitability recovery. Standalone Q4 PAT was \u20b929.55 crore, bouncing sharply from \u20b96.38 crore in Q3 FY26 \u2014 a 363% sequential improvement. 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